----------------------------------------------------------------------------------------------------------------------------------------------------------
      name:  <unnamed>
       log:  E:\FIS_duration\turn_xsret_around_annc_rep.log
  log type:  text
 opened on:  16 Sep 2025, 12:52:59

. infix numep 2-5 type 7-7 turnbef 9-16 turnaft 18-25 xsbef 27-35 xsaft 37-45 using "e:\FIS_duration\ret_turn_before_after_annc_rep.txt"
(5,261 observations read)

. gen chgturn = turnaft-turnbef

. gen chgxs = xsaft - xsbef

. summarize

    Variable |        Obs        Mean    Std. dev.       Min        Max
-------------+---------------------------------------------------------
       numep |      5,261    508.2965    316.1126          5       1237
        type |      5,261    1.861053     .897973          1          3
     turnbef |      5,261    .0295445    .1960821     .00002    5.75396
     turnaft |      5,261    .0240995    .0989565   1.00e-05    3.08418
       xsbef |      5,261    .0002061    .0356889   -.409605   2.096073
-------------+---------------------------------------------------------
       xsaft |      5,261   -.0009521    .0191514   -.224703    .189663
     chgturn |      5,261    -.005445    .1897883   -4.64488     3.0678
       chgxs |      5,261   -.0011582    .0407098  -2.120017    .427592

. summarize if type == 1

    Variable |        Obs        Mean    Std. dev.       Min        Max
-------------+---------------------------------------------------------
       numep |      2,537    375.0406    242.8894          5       1152
        type |      2,537           1           0          1          1
     turnbef |      2,537     .021232    .0949404     .00006    3.36332
     turnaft |      2,537    .0212825     .049112   1.00e-05      .8407
       xsbef |      2,537   -.0000431    .0165471   -.409605    .213672
-------------+---------------------------------------------------------
       xsaft |      2,537    .0006065    .0165875   -.159256    .189663
     chgturn |      2,537    .0000505    .0903228   -3.27526     .83329
       chgxs |      2,537    .0006496    .0237524   -.208123    .427592

. summarize if type == 2

    Variable |        Obs        Mean    Std. dev.       Min        Max
-------------+---------------------------------------------------------
       numep |        918    372.4499    267.8438         17       1209
        type |        918           2           0          2          2
     turnbef |        918    .0223904    .1746145     .00002    3.95848
     turnaft |        918    .0184498    .0784498     .00005    2.20156
       xsbef |        918   -.0012165    .0212629   -.181657    .245897
-------------+---------------------------------------------------------
       xsaft |        918   -.0042499    .0232928   -.224703    .164245
     chgturn |        918   -.0039406     .135909   -3.80209     .34637
       chgxs |        918   -.0030334    .0319215   -.302994    .184272

. summarize if type == 3

    Variable |        Obs        Mean    Std. dev.       Min        Max
-------------+---------------------------------------------------------
       numep |      1,806     764.541    268.0019         54       1237
        type |      1,806           3           0          3          3
     turnbef |      1,806     .044858    .2890172     .00005    5.75396
     turnaft |      1,806    .0309284    .1481444     .00002    3.08418
       xsbef |      1,806    .0012793    .0556333   -.160049   2.096073
-------------+---------------------------------------------------------
       xsaft |      1,806   -.0014653    .0199353   -.115648    .172598
     chgturn |      1,806   -.0139296    .2898342   -4.64488     3.0678
       chgxs |      1,806   -.0027446    .0592478  -2.120017    .173399

. ttest chgturn == 0

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
 chgturn |   5,261    -.005445    .0026166    .1897883   -.0105746   -.0003154
------------------------------------------------------------------------------
    mean = mean(chgturn)                                          t =  -2.0810
H0: mean = 0                                     Degrees of freedom =     5260

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0187         Pr(|T| > |t|) = 0.0375          Pr(T > t) = 0.9813

. ttest chgxs == 0

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   chgxs |   5,261   -.0011582    .0005613    .0407098   -.0022585   -.0000579
------------------------------------------------------------------------------
    mean = mean(chgxs)                                            t =  -2.0636
H0: mean = 0                                     Degrees of freedom =     5260

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0196         Pr(|T| > |t|) = 0.0391          Pr(T > t) = 0.9804

. summarize chgxs if chgturn >= 0

    Variable |        Obs        Mean    Std. dev.       Min        Max
-------------+---------------------------------------------------------
       chgxs |      2,992    .0015923    .0261749   -.302994    .201624

. summarize chgxs if chgturn < 0

    Variable |        Obs        Mean    Std. dev.       Min        Max
-------------+---------------------------------------------------------
       chgxs |      2,269   -.0047852    .0540087  -2.120017    .427592

. ttest chgturn == 0 if type == 1

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
 chgturn |   2,537    .0000505    .0017932    .0903228   -.0034658    .0035669
------------------------------------------------------------------------------
    mean = mean(chgturn)                                          t =   0.0282
H0: mean = 0                                     Degrees of freedom =     2536

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.5112         Pr(|T| > |t|) = 0.9775          Pr(T > t) = 0.4888

. ttest chgturn == 0 if type == 2

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
 chgturn |     918   -.0039406    .0044857     .135909    -.012744    .0048628
------------------------------------------------------------------------------
    mean = mean(chgturn)                                          t =  -0.8785
H0: mean = 0                                     Degrees of freedom =      917

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.1900         Pr(|T| > |t|) = 0.3799          Pr(T > t) = 0.8100

. ttest chgturn == 0 if type == 3

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
 chgturn |   1,806   -.0139296    .0068201    .2898342   -.0273057   -.0005535
------------------------------------------------------------------------------
    mean = mean(chgturn)                                          t =  -2.0424
H0: mean = 0                                     Degrees of freedom =     1805

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0206         Pr(|T| > |t|) = 0.0413          Pr(T > t) = 0.9794

. ttest chgxs == 0 if type == 1

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   chgxs |   2,537    .0006496    .0004716    .0237524   -.0002751    .0015743
------------------------------------------------------------------------------
    mean = mean(chgxs)                                            t =   1.3775
H0: mean = 0                                     Degrees of freedom =     2536

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.9158         Pr(|T| > |t|) = 0.1685          Pr(T > t) = 0.0842

. ttest chgxs == 0 if type == 2

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   chgxs |     918   -.0030334    .0010536    .0319215   -.0051011   -.0009658
------------------------------------------------------------------------------
    mean = mean(chgxs)                                            t =  -2.8792
H0: mean = 0                                     Degrees of freedom =      917

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0020         Pr(|T| > |t|) = 0.0041          Pr(T > t) = 0.9980

. ttest chgxs == 0 if type == 3

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   chgxs |   1,806   -.0027446    .0013942    .0592478   -.0054789   -.0000102
------------------------------------------------------------------------------
    mean = mean(chgxs)                                            t =  -1.9686
H0: mean = 0                                     Degrees of freedom =     1805

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0246         Pr(|T| > |t|) = 0.0491          Pr(T > t) = 0.9754

. ttest xsbef == 0

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   xsbef |   5,261    .0002061     .000492    .0356889   -.0007585    .0011707
------------------------------------------------------------------------------
    mean = mean(xsbef)                                            t =   0.4189
H0: mean = 0                                     Degrees of freedom =     5260

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.6623         Pr(|T| > |t|) = 0.6753          Pr(T > t) = 0.3377

. ttest xsaft == 0

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   xsaft |   5,261   -.0009521     .000264    .0191514   -.0014697   -.0004345
------------------------------------------------------------------------------
    mean = mean(xsaft)                                            t =  -3.6059
H0: mean = 0                                     Degrees of freedom =     5260

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0002         Pr(|T| > |t|) = 0.0003          Pr(T > t) = 0.9998

. ttest xsbef == 0 if type == 1

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   xsbef |   2,537   -.0000431    .0003285    .0165471   -.0006873    .0006011
------------------------------------------------------------------------------
    mean = mean(xsbef)                                            t =  -0.1312
H0: mean = 0                                     Degrees of freedom =     2536

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.4478         Pr(|T| > |t|) = 0.8956          Pr(T > t) = 0.5522

. ttest xsbef == 0 if type == 2

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   xsbef |     918   -.0012165    .0007018    .0212629   -.0025937    .0001608
------------------------------------------------------------------------------
    mean = mean(xsbef)                                            t =  -1.7334
H0: mean = 0                                     Degrees of freedom =      917

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0417         Pr(|T| > |t|) = 0.0834          Pr(T > t) = 0.9583

. ttest xsbef == 0 if type == 3

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   xsbef |   1,806    .0012793    .0013091    .0556333   -.0012882    .0038469
------------------------------------------------------------------------------
    mean = mean(xsbef)                                            t =   0.9772
H0: mean = 0                                     Degrees of freedom =     1805

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.8357         Pr(|T| > |t|) = 0.3286          Pr(T > t) = 0.1643

. ttest xsaft == 0 if type == 1

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   xsaft |   2,537    .0006065    .0003293    .0165875   -.0000393    .0012523
------------------------------------------------------------------------------
    mean = mean(xsaft)                                            t =   1.8417
H0: mean = 0                                     Degrees of freedom =     2536

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.9672         Pr(|T| > |t|) = 0.0656          Pr(T > t) = 0.0328

. ttest xsaft == 0 if type == 2

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   xsaft |     918   -.0042499    .0007688    .0232928   -.0057587   -.0027411
------------------------------------------------------------------------------
    mean = mean(xsaft)                                            t =  -5.5281
H0: mean = 0                                     Degrees of freedom =      917

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0000         Pr(|T| > |t|) = 0.0000          Pr(T > t) = 1.0000

. ttest xsaft == 0 if type == 3

One-sample t test
------------------------------------------------------------------------------
Variable |     Obs        Mean    Std. err.   Std. dev.   [95% conf. interval]
---------+--------------------------------------------------------------------
   xsaft |   1,806   -.0014653    .0004691    .0199353   -.0023853   -.0005452
------------------------------------------------------------------------------
    mean = mean(xsaft)                                            t =  -3.1235
H0: mean = 0                                     Degrees of freedom =     1805

    Ha: mean < 0                 Ha: mean != 0                 Ha: mean > 0
 Pr(T < t) = 0.0009         Pr(|T| > |t|) = 0.0018          Pr(T > t) = 0.9991

. log close
      name:  <unnamed>
       log:  E:\FIS_duration\turn_xsret_around_annc_rep.log
  log type:  text
 closed on:  16 Sep 2025, 12:52:59
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